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Fabrics and garment major Raymond on Friday said it has appointed Amit Agarwal as Chief Financial Officer (CFO), replacing Sanjay Bahl who has relinquished his position.

According to a PTI report: Agarwal, who was the CEO of Jindal Coated Steel Products Ltd prior to joining Raymond, assumed the new role with effect from July 2, the company said in a regulatory filing.

He is a veteran CFO having worked with large corporations like Arcelor Mittal, Essar Steel, Suzlon and Jet Airways where he was the CFO and Acting CEO, it added.

Agarwal joins Raymond at a crucial juncture when the business is witnessing tough market conditions due to COVID-19 impact and the group is also in the process of de-merger that would lead to two separate listed entities, the filing added.

On the other hand, Bahl, who was the Raymond CFO for about five years will continue to be associated with the company as an advisor for six months to support the leadership team through the transition period, the company said.

During his tenure Bahl was instrumental in steering the group through GST implementation, demonetisation and now COVID-19, it added.

He also had significant contributions in facilitating the sale of a part of the company’s Thane land and also strategising the demerger of the group’s lifestyle business into a separate legal entity, the company said.

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Bombay Dyeing, established by Nowrosjee Wadia in 1879 as a small operation of Indian spun cotton yarn dip dyed by hand, has now grown to be one of the most respected and trusted brands in the country.Moving ahead the company also plans to launch a men’s readymade garment brand which will be launched firstly with the Bombay Dyeing exclusive outlets and then with Multi Brand Outlets (MBOs) across the country

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Earlier, it was a very common phenomenon that a customer would like a product but not get his size, or colour preference. With Omnichannel, the ability to service a customer – give him doorstep service – from anywhere in the country becomes very easy. We would love to implement Omnichannel as soon as possible and we are working towards it. There are lots of things in the pipeline in as far as Lacoste goes. Let’s see how things pan out.

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Narinder Singh, CMD, Numero Uno says “We believe that we can create attractive looking denims & protect our natural resources at the same time. This collection is actually an initiative towards revolutionizing the harmful impact of industrial wash processes of making jeans on our environment”

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Women’s apparel maker TCNS Clothing Company has raised over Rs 337 crore from the anchor investors, ahead of its initial share-sale.Women's apparel maker TCNS Clothing Company has raised over Rs 337 crore from the anchor investors, ahead of its initial share-sale

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